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The Biggest Myth About Taxes and the Fiscal Cliff



Comments (8)

  1. Tom Johnson says:

    Louis,

    Your article “The Biggest Myth About Taxes and the Fiscal Cliff” falsely accounting for the increased historical stock market returns from the higher tax rates. Though you can’t explain the rationale, you are mistakenly attributing causality of the stock returns to tax rates.

    The level of – and change in – tax rates tells us more about the general economic conditions and the public and political environment. Both the tax rates and the stock market returns are themselves dependent on the general economic, social and political setting. Just look at the time blocks in the table and you see how tax policy and stock performance reflect the environment.

    Not much of a myth there for you to bust, just plain logic.

    Tom

    [Reply]

    Louis Basenese Reply:

    Tom – I appreciate the feedback. Check out my latest column for some clarification on the points you raise.

    http://www.wallstreetdaily.com/2012/12/03/another-tax-myth-bites-the-dust/

    Best,

    Lou

    [Reply]

  2. David Sanders says:

    Reading the print and making a reasonable evaluation. I can’t wrap my head around the nerve of them mentioning we won’t survive the fiscal cliff. Tell them to wake up and face reality.

    [Reply]

  3. M.College says:

    Folks need dividends regardless of tax rates. The “cliff is bull, created by this joke administration. The real issue is job creation that the jokers refuse to effectively address. Simple and historically proven. And Obama and his joker staff know this but they are deathly afraid to be truthful, just listen to the trash from the mouth of jay carney . How can anyone believe his transparent lies (the only transparency in this regime).

    [Reply]

  4. Thomas Davis says:

    I would like to know why this country has no back bone any more . Obama should have been Impeached already right along with his joker staff. the President should not lie to his country.

    [Reply]

    David Cole Reply:

    Amen to that Thomas. Lets go over the so called cliff (that really doesn’t exists). What a lie. The economy will be OK. It may stagger a bit but nothing more.

    [Reply]

  5. Chuck S says:

    I think this is too simplistic. There are likely a lot of other factors involved. I think a lot of the big returns are due to the Reagan tax cuts, which resulted in a big economic boom through Feb, 2000. The market started dropping March 2000. NASDAQ dropped 55% from March, 2000 to the inauguration of Bush.

    [Reply]

  6. Marcus McNair says:

    Let’s make this simple about taxes since there’s a tough a war about it. When you raise taxes people have less to spend on gas and food, etc. Major companies jump ship to a tax friendly state or country so they can optimize there profit.

    [Reply]

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